Breaking News
Chingola Tragedy Unfolds: Urgent Rescue Operations for Trapped Miners Amidst Collapsed Mine in Zambia 22 Mine Safety Mining in Zambia Mining safety 

Chingola Tragedy Unfolds: Urgent Rescue Operations for Trapped Miners Amidst Collapsed Mine in Zambia

Copperbelt Katanga News
A terrible accident recently happened in Chingola on the Copperbelt, where some people who were mining illegally got stuck after the ground caved in on them. This made a team of helpers from Konkola Copper Mines (KCM) and the Mines Safety Department work together quickly to save them. A TV crew from ZNBC was there yesterday and said that the helpers are taking out water from the holes where the people are. Sadly, by 09:30 hours, they had not found anyone yet. Everyone is worried and in a hurry. The… Read More Here
Zambia to Launch Nationwide Mineral Mapping Project 23 Mining in Zambia Exploration News in Brief 

Zambia to Launch Nationwide Mineral Mapping Project

Constance
Zambia’s Acting Mines and Minerals Development Minister, Chipoka Mulenga has unveiled a nationwide initiative to comprehensively survey and map the country’s abundant mineral reserves. This strategic effort is aimed at providing the Zambian government with an in-depth understanding of its diverse mineral deposits. Highlighting progress, Mr. Mulenga announced the completion of geological surveys at Mpika district’s Kanyelele Gold Mine, conducted to assess the extent and potential of mineral resources in the area. He noted that the finalization of a detailed report on these findings is underway. Addressing the National Assembly,… Read More Here
Rome Resources Ventures into DRC's Tin Assets Through London Partnership 24 Mining in DRC Tin 

Rome Resources Ventures into DRC’s Tin Assets Through London Partnership

Constance
Rome Resources, a company actively engaged in tin exploration in the Democratic Republic of Congo (DRC), has unveiled its plans to acquire interests in promising tin assets located in North Kivu. This move is anticipated to significantly impact the African tin production landscape, with the arrival of a London-listed company potentially drawing increased investments into the sector. On November 30, Rome Resources made public the signing of a non-binding memorandum of understanding with Pathfinder Minerals, a British company listed on the AIM market of the London Stock Exchange. The memorandum… Read More Here
Porto do Lobito Union Celebrates Enhanced Working Conditions and Worker Reintegration 25 International Transport and Logistics 

Porto do Lobito Union Celebrates Enhanced Working Conditions and Worker Reintegration

Constance
The Trade Union Committee of Porto do Lobito expressed appreciation for the improvements in working conditions within the company. During the Workers’ Assembly at Casa do Pessoal do Porto do Lobito, marking its formalization’s first anniversary, Ernesto Muabi António, the Union Commission’s first secretary, highlighted the historical reintegration of some previously dismissed workers as a positive example. “While we continue addressing concerns among our associates regarding the company’s social fund, productivity bonus, professional qualifications, and more, we’re actively collaborating with the Administration to resolve these issues,” stated Ernesto. Responding to… Read More Here
DRC and Zambia urged to formulate robust policies for extraction and beneficiation of critical minerals 26 Mining in DRC Battery Metals Mining in Zambia 

DRC and Zambia urged to formulate robust policies for extraction and beneficiation of critical minerals

Constance
Joint calls from activists in the Democratic Republic of Congo (DRC) and Zambia urge the governments of both nations to develop comprehensive policies regarding the extraction and enrichment of critical minerals, aligning them with industrial and economic transformation. In a combined statement, civil society organizations have issued recommendations to the authorities of Congo and Zambia, emphasizing the immediate need for a targeted skills policy. They stress the importance of training young Congolese and Zambians in vital skills and technology for the evolving industry. In the next five years, both countries… Read More Here
DRC Government Urges Oil Operators to Sustain Kinshasa Distribution 27 Mining in DRC Oil & Gas Petroleum 

DRC Government Urges Oil Operators to Sustain Kinshasa Distribution

Constance
In a swift response to the city’s petroleum supply concerns, Minister of Hydrocarbons Didier Budimbu convened an urgent meeting on November 29, 2023. The focus: ensuring uninterrupted distribution of petroleum products across Kinshasa. Budimbu rallied industry players, including representatives from the Ministries of Hydrocarbons, Finance, and the Presidency, alongside key companies in the supply chain. The urgency stemmed from the need to prevent speculation, particularly heightened during the ongoing electoral campaign. Clarifying the situation, Budimbu emphasized that the temporary disruption in Kinshasa did not equate to a shortage or storage… Read More Here
OIl Mining in DRC Oil & Gas Petroleum 

DRC Petroleum Product Subsidies to Hit $400M Mark in 2023

Constance
The Democratic Republic of Congo (DRC) would not experience a shortage of stocks of petroleum products although it depends on the international situation. These assurances were given by the Minister of Finance, Nicolas Kazadi, during a press briefing organized on Tuesday, November 28, 2023, at the initiative of his colleague from Communication and Media, Patrick Muyaya. According to Nicolas Kazadi, the Congolese Government has already made some shortfall payments to oil companies. Like last year, the cost of subsidizing petroleum products in the Democratic Republic of Congo is estimated at… Read More Here
Global Uranium Prices Hit 15-Year High, Surpassing $80 USD per Pound Milestone 28 International 

Global Uranium Prices Hit 15-Year High, Surpassing $80 USD per Pound Milestone

Constance
Uranium prices have exceeded the US$80 per pound mark for the first time in more than 15 years. On the American stock exchange Nymex, futures contracts for yellowcake, a crude form of uranium, exceeded $80.25 on Monday, November 20, 2023. According to certain specialists, this historic peak comes after months of rising fuel prices, in a global context marked by the return to favor of nuclear power. Supply contracts with utilities responsible for purchasing uranium for nuclear power plants continue to intensify, according to Colin Hamilton, director of commodities research… Read More Here
DRC Initiates Central Bank Recapitalization to Strengthen Financial Independence 29 Mining in DRC Economy Gold 

DRC Initiates Central Bank Recapitalization to Strengthen Financial Independence

Constance
The Democratic Republic of Congo (DRC) government has initiated a two-year process, from 2024 to 2025, to recapitalize the Central Bank, aiming to elevate its capital to 213 billion FC in compliance with existing legislation. This endeavor seeks to strengthen the institution’s financial autonomy. Finance Minister Nicolas Kazadi revealed on Tuesday that despite the DRC holding approximately 30% of global reserves, its central bank currently lacks monetary gold. He highlighted an ongoing plan to address this deficiency. While the gold standard system has ceased, gold retains its stature as a… Read More Here
Rio Tinto Chief to join IGO board 30 International Mining Personality 

Rio Tinto Chief to join IGO board

Constance
Ivan Vella, former chief executive aluminium at Rio Tinto, will join the IGO leadership team as managing director and chief executive officer. Vella stepped down from his position at Rio in June, but remained with the company throughout the transition process. However, Vella’s contract with Rio was terminated on November 15. In a statement, Rio said the termination was due to the “failing to follow guidance on acceptable management of confidential information”. IGO spoke with both Vella and Rio Tinto about the termination, and has confirmed Vella’s future role with… Read More Here

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